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• Ferrovial closes sale of 19.75% stake in Heathrow Airport for 2 bln euros

  Spanish building and construction giant Ferrovial stated on Thursday it closed the sale of a 19.75% stake in Heathrow Airport Holdings for 2 billion euros ($ 2.10 billion). to French financial investment firm Ardian and Saudi Arabia's sovereign. wealth fund PIF. Other investors of FGP Topco Ltd, the parent business of. Heathrow Airport Holdings, offered an additional 17.87% stake,. taking Ardian and PIF's purchase approximately 4 billion euros for. 37.62%, Ferrovial stated. Later on Thursday, PIF also announced the conclusion of. acquisition of approximately a 15% stake of the holding company. of Heathrow Airport Holdings Ltd, saying that the investment is. in line with the PIF strategy to empower essential companies. through long-term partnerships. The final contract to offer stakes was revealed in June. saying that Ardian and PIF would acquire 22.6% and 15%. respectively of FGP Topco Ltd. . Ferrovial, which builds and manages highways and airports,. is concentrating on its expansion in the United States, where it is. developing a brand-new terminal at New York's John F. Kennedy. International Airport.

• Trump tariffs could intensify United States trucking industry slump, experts state

  Presidentelect Donald Trump's threatened tariffs on the top trade partners China, Mexico and Canada would deal a blow to the $1.7 trillion U.S. transportation industry and worsen a nearly threeyear trucking recession, sector experts stated. The market that moves whatever Americans make and buy is considered a financial bellwether, and will be amongst the first to signify any unexpected consequences of trade policies that Trump says will assist, not hurt, U.S. organizations. Tariffs like those proposed will raise costs, and higher rates suggest less need. Less demand equates to less freight, stated Jason Miller, interim chair of the department of supply-chain management at Michigan State University's service college. Practically every transportation business running in the United States is exposed to tariff-related revenue slumps. The greatest include trucking and shipment firms J.B. Hunt Transportation Services and United Parcel Service as well as railway operators Canadian Pacific Kansas City and Union Pacific. J.B. Hunt did not react to ask for comment and UPS decreased remark. The railway operators stated they were prepared to respond when and if tariffs come through. Trump is keen to utilize tariffs to produce jobs and raise profits to replace that will be lost with planned tax cuts, despite the fact that those import levies would in impact function as a new tax on consumers, whose costs represents the nation's most effective financial motorist. However he also seems using tariff risks to require U.S. trade partners to relent on nontrade issues like border security, economic experts and transportation executives said. China and other U.S. trade partners have actually not backed down, stating the tariffs would serve only to harm all involved. Trump has stated he would slap tariffs of 25% on products from Mexico and Canada unless those federal governments punish the flow of immigrants and fentanyl into the U.S. He has also sworn to add tariffs of at least 10% on top of what is already imposed on Chinese products. The United States is the world's No. 1 importer and No. 2 exporter. Trump's threatened tariffs would decrease flows in both instructions, said Mary Lovely, a senior fellow of the Peterson Institute for International Economics, who studies the effect of the U.S.-China trade war. We anticipate that the brand-new administration will get to work immediately, said Lovely, who added that Trump's brand-new tariffs might begin hitting in the 2nd or 3rd quarters of next year. TRUMP TARIFFS - THE FOLLOW UP Trucking accounts for about one-third of U.S. transportation, more than any other sector. Tariffs imposed by Trump during his previous term added to a trucking economic crisis that lasted for the majority of 2019. We have actually seen this motion picture before, so we know how this plays out, said Dean Croke, primary expert at DAT Freight and Analytics, which connects trucking companies with shippers. All I see is more disturbance and tit-for-tat tariffs, Croke said, echoing a broadly held belief in transport. U.S. trucking is in a down cycle that has lasted almost three years, the longest and inmost considering that the worldwide financial crisis, stated Michael Castagnetto, president of North American surface transportation at C.H. Robinson Worldwide. Any new import levies are on a collision course with stubbornly flat industrial production - a crucial driver of domestic and international volume from sectors that consist of mining, manufacturing, chemicals and electricity - and remaining overcapacity from the COVID shipping boom, experts stated. Trump's new tariffs on Mexico and Canada, in particular, would strike one of the rare development locations for trucking. The value of freight that moves between those countries and the U.S. - which includes completed lorries, auto parts and avocados from Mexico along with steel and lumber from Canada - reached $ 88.5 billion in September 2024, up 7.7% from the year-earlier, according to the U.S. Department of Transport's Bureau of Transportation Stats (BTS). Many of our consumers-- especially vehicle consumers--. treat The United States and Canada as one incorporated supply chain, with a few of. their freight really crossing both the Mexico and Canada. borders, C.H. Robinson's Castagnetto said. That interrelation makes the U.S. susceptible to retaliatory. tariffs. TRANS-BORDER TRADE Trump's tariff threats might also hinder railway business. plans to switch from cost-reductions and efficiency efforts to. growth, said independent railroad analyst Anthony Hatch. North American trans-border rail freight was $17 billion in. September, down 5.4% from the year previously, according to BTS. data, but remains an opportunity for the market. Canadian Pacific bought Kansas City Southern for $31 billion. in 2021, combining the business into an entity referred to as CPKC and. producing the very first train to connect Canada, the United States and. Mexico. The merged business aimed to capitalize on China's. factory expansion in Mexico, which recently surpassed China as. the No. 1 U.S. trade partner. While there was rhetoric and headlines, eventually free. sell The United States and Canada increased substantially throughout the first. Trump term and a new free trade arrangement was developed, a. CPKC spokesman stated. Union Pacific, which covers much of the U.S. West, also has. connections to and investments in Mexico. If it slows down, we have the capability to get rid of a great deal of. costs, Union Pacific CEO Jim Vena stated at a current investor. conference, referring to any tariff-related need decline.

• Wall Street Journal, Dec 13,

  These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. The team overseeing the transition of Donald Trump, U.S. president-elect has begun to look at ways to consolidate and even eliminate Washington's top bank regulators. According to sources close to Beijing, Xi Jinping does not plan to attend the inauguration of Donald Trump, U.S. president-elect, next month, despite having been invited. However, he may send a high-ranking official to represent him. Harold Daggett of the International Longshoremen's Association met Donald Trump on Thursday at his Mar-a-Lago property in Florida. Warner Bros Discovery announced that it will be restructuring into two divisions: one focusing on legacy cable TV and the second on streaming and studios. Bain Capital, a Boston-based investment firm, has made a non-binding offer to buy Insignia Financial. The amount is A$2.7 billion. Amazon.com plans to donate $1 million to the inaugural fund of Donald Trump, U.S. president-elect. Jeff Bezos is also planning on establishing ties with the new administration.

• Mexican senate authorizes work advantages for app chauffeurs

  Mexico's Senate on Thursday authorized reforms to enhance conditions for chauffeurs with ridehailing and shipment services such as DiDi, Rappi and Uber, ensuring access to social security and a. Christmas reward, to name a few advantages. The reform passed all with 113 votes in favor, and. will be forwarded to the executive power to get enacted. President Claudia Sheinbaum had actually sent out the proposition to. lawmakers in early December and it was fast-tracked to a plenary. vote ahead of Congress' Christmas recess on Dec. 15. Mexico's judgment Morena celebration and its allies, which won a. landslide success in the June basic election, delight in a large. bulk in both houses. They have since pressed through a number of reforms proposed. under the present and previous administrations. The most recent would include Mexico to the ranks of nations such. as Chile and Spain that currently control overcome digital. platforms, ensuring basic labor rights such as a minimum. wage and social security. It would ensure that workers who make at least a minimum. wage on an app - around $414 each month starting in 2025 - have. the right to unionize and have access to benefits such as social. security, mishap insurance coverage, pensions, maternity leave, the. right to get business profits, or a Christmas perk. Employees making less than base pay would not have access. to all the advantages however would be protected in case of. work-related mishaps. Around 658,000 people are utilized throughout Mexico on digital. platforms, main numbers reveal. Of these, some 41% make more. than minimum wage. Alianza in Mexico, an organization representing driving and. delivery apps including Uber, Didi and Rappi, has actually required. wider discussion. Some chauffeurs told local media they felt excluded of talks. and were worried the reform would impact their work flexibility,. a leading priority for many part-time employees. According to Uber, around 70% of its chauffeurs link for. fewer than 10 hours a week, numerous using the app as a. supplemental income between other dedications.

• Frontera's disagreement with Guyana over overseas license might litigate

  Torontolisted Frontera Energy and partner CGX Energy are looking for options to deal with a disagreement with Guyana over rights to retain an overseas block where they discovered oil, however need to they fail to reach an agreement, the matter is set to go to an arbitration court, the vice president stated. Guyanese Vice President Bharrat Jagdeo said in August the government had chosen not to approve the companies' application to evaluate a discovery in the block, which would have provided them more time with the license, as the South American country was not confident the firms could find a financial partner. On Thursday, Jagdeo said there was no doubt Frontera and CGX stopped working to abide by some terms of the license, however if they have a various interpretation, the parties can go through the legal process developed in the arrangement. We are not worried about it going to court, he informed reporters in a press conference. According to the contract's terms, if celebrations do not fix a dispute in a 60-day period after the joint endeavor's. partners alert the government of the dispute, they can go. to arbitration or a sole professional. Frontera and CGX Energy stated previously on Thursday they were. securely of the view that the Corentyne block Petroleum Arrangement. stays in place. The joint venture ... has actually sent the federal government of Guyana a. letter activating a 60-day period for the celebrations to the. Corentyne block Petroleum Agreement to make all affordable. efforts to agreeably fix all disputes by means of negotiation, they. included the release. Jagdeo stated he had not seen the letter. Analysts and professionals were expecting Corentyne to be the next. area to be developed in Guyana, which could have added diversity. to an industry completely dominated by a consortium led by U.S. significant ExxonMobil. Corentyne is the only location Frontera and CGX have left in. Guyana, after returning 2 other blocks to the state, Demerara. and Berbice. In 2022, the companies announced the existence of. light oil and gas condensate in Corentyne and have actually focused their. efforts there since. A CGX subsidiary has a different job in Guyana for a $130. million port, which is starting commercial operations this month. after the company negotiated long-lasting contracts for its usage,. it stated. The port can accommodate vessels of as much as 150 meters.

• Frontera and CGX look for alternatives to protect offshore oil block of Guyana

  Frontera Energy, a Toronto-listed oil company, and its affiliate CGX Energy have said that they are looking for alternatives to resolve a dispute between the Guyana government and Frontera Energy over the rights to retain a block offshore and to continue exploration there. Frontera announced this on Thursday. Bharrat Jagdeo, Guyana's Vice President, said that the government decided not to grant the companies a license to appraise the discovery, because it was not sure they could find a partner to finance the project. Frontera and its joint-venture partner CGX Energy remain firmly convinced that the Corentyne Block Petroleum Agreement is still in force, Frontera stated in a press release to announce quarterly results. The company added that the vice president’s comments had "materially impacted" the partnership. The joint venture sent a letter to the government of Guyana activating a period of 60 days for all parties to the Corentyne Block Petroleum Agreement to make every reasonable effort to resolve any disputes amicably via negotiation," the report added. According to the terms of the agreement, if they cannot resolve the dispute within 60 days, they may go to arbitration, or to a single expert. Analysts and experts expected Corentyne would be the next area developed in Guyana. This could have added variety to an industry dominated by Exxon Mobil, a U.S.-based consortium. Frontera and CGX are now only left with Corentyne in Guyana after returning Demerara, and Berbice, to the estate. The companies first announced in 2022 that there was light oil and condensate present in Corentyne. They have concentrated their efforts on this area since then. It said that a CGX subsidiary in Guyana has a separate $130 million project for a port in the country. The port can accommodate vessels up to 150 meters long and will begin commercial operations in this month, after the company negotiated agreements for its use. Kemol King reported from Georgetown, and Marianna Pararaga edited the story in Houston.

• Mexico's lower house authorizes labor reform for app workers

  Mexico's lower house on Tuesday authorized a reform that seeks to regulate labor conditions for shipment employees and motorists working for apps such as DiDi, Rappi and Uber by ensuring access to social security and a Christmas reward to name a few benefits. The reform passed in basic with 462 votes in favor, with no abstentions and no one voting against, following a two-hour argument. Today is a day that ought to go down in history, said ruling Morena celebration legislator Ariadna Barrera, saying the reform would advantage hundreds of thousands of employees and even more the celebration's. efforts to enhance employees' rights. Around 658,000 people are utilized throughout Mexico on. digital platforms, according to tax authority data. Of these,. some 41% earn over the minimum wage. President Claudia Sheinbaum sent out the proposal to. legislators early December and the law was fast-tracked to a. plenary vote ahead of Congress' Christmas recess on Dec. 15. After being authorized in general, the lower house moved. on to talk about the reform's particular terms. The legislation. should then pass through the Senate which will vote whether to. endorse any modifications. The ruling Morena celebration and its allies, who won a landslide success in the June basic election, delight in a big bulk in. both homes. They have actually because sped through a number of reforms. proposed under the present and previous administrations. The reform would include Mexico to the ranks of nations. such as Chile and Spain that already regulate work through. digital platforms, ensuring fundamental labor rights such as a. minimum wage and social security.

• Adani Ports withdraws DFC funding ask for Colombo port task

  India's Adani Ports and Unique Financial Zone Ltd stated on Tuesday it would fund its Colombo port terminal project through internal accruals and a. capital management plan, withdrawing its request for funding from the U.S. International. Advancement Financing Corp (DFC). DFC last year stated it would provide $553 million in funding for the port terminal job,. which is partially owned by the Adani Group. The business, however, stated the Colombo West International Terminal job is advancing. well and is on track for commissioning by early 2025. DFC did not instantly react to a Reuters ask for remark. Ports-to-edible oils Adani Group, controlled by Indian billionaire Gautam Adani, holds a 51%. stake in the west container terminal of the port, which likewise has a terminal run by China. Merchants Port Holdings Co Ltd. . Sri Lankan conglomerate John Keells Holdings owns 34% of the terminal and the rest is held. by the state-run Sri Lanka Ports Authority. Last month, U.S. authorities accused Adani Group Chairman Gautam Adani and seven others of. belonging to a $265 million scheme to pay off Indian authorities, and of misleading U.S. investors. while raising funds there. The ports-to-power conglomerate has actually described the claims baseless and stated it would seek. all possible legal recourse.

• Airlines suspend flights as Middle East stress increase

  Concerns over a wider conflict in the Middle East have prompted international airline companies to suspend flights to the region or to prevent afflicted air space. Below are a few of the airline companies that have cancelled services to and from the area: AEGEAN AIRLINES The Greek airline company has cancelled flights to and from Beirut until March 29 and to and from Tel Aviv till Dec. 9. From Dec. 10, some flights to and from Tel Aviv will operate as typical. AIR ALGERIE The Algerian airline company has suspended flights to and from Lebanon until more notification. AIRBALTIC Latvia's airBaltic has actually cancelled flights to and from Tel . Aviv till Jan. 28. AIR FRANCE-KLM Air France has actually extended its suspension of Paris-Tel Aviv. flights till Dec. 31 and Paris-Beirut flights up until Jan. 5. KLM has actually extended the suspension of flights to Tel Aviv till. the end of the year at least. The group's low-cost unit Transavia has cancelled flights to. and from Tel Aviv, Amman and Beirut till end-March. AIR INDIA The Indian flag carrier has suspended flights to and from. Tel Aviv up until more notice. BULGARIA AIR The Bulgarian carrier has cancelled flights to and from. Israel up until Dec. 23. CATHAY PACIFIC Hong Kong-based Cathay Pacific has actually cancelled flights to Tel . Aviv till Oct. 25, 2025. CORENDON AIRLINES The Turkish airline company cancelled flights to and from Tel Aviv. till January. DELTA AIR LINES The U.S. provider has paused flights between New york city and Tel . Aviv through March 2025. EASYJET EasyJet will not rush to resume flights to Tel Aviv. after a ceasefire in between Israel and Hezbollah entered into effect,. its inbound CEO said on Nov. 27. The UK budget plan airline company had. formerly suspended flights to and from Tel Aviv up until March. EGYPTAIR The Egyptian provider in September stated it had suspended. flights to Beirut until the circumstance stabilises. EMIRATES UAE's state-owned airline has cancelled flights to Beirut. till Dec. 31 and to Baghdad until Dec. 14. ETHIOPIAN AIRLINES The Ethiopian provider has suspended flights to Beirut until. even more notice, it stated in a Facebook post on Oct. 4. FLYDUBAI Flights to Beirut are presently suspended, a flydubai. spokesperson said on Nov. 28. IAG IAG-owned British Airways has actually suspended flights to Tel Aviv. until the end of March 2025. IAG's Spanish affordable airline Vueling has actually cancelled. operations to Tel Aviv and to Amman until at least early 2025. IRAN AIR The Iranian airline has actually cancelled Beirut flights up until. even more see. IRAQI AIRWAYS The Iraqi nationwide carrier has actually suspended flights to Beirut. up until more notification. ITA AIRWAYS The Italian provider has actually extended the suspension of Tel Aviv. flights through Jan. 31. LOT The Polish provider has actually cancelled flights to Tel Aviv up until. Dec. 20. Its very first scheduled flight to Beirut is prepared for. April 1. LUFTHANSA GROUP The German airline group has actually extended the suspension of its. flights to Tel Aviv until Jan. 31. Flights for Tehran are cancelled till Jan. 31 and for. Beirut till Feb. 28. SunExpress, a joint endeavor in between Lufthansa and Turkish. Airline companies, has actually suspended flights to Beirut through. Dec. 17. PEGASUS The Turkish airline has actually cancelled flights to Beirut till. Jan. 1. QATAR AIRWAYS The Qatari airline company resumed flights to and from Lebanon from. Dec. 9. RYANAIR Europe's biggest budget plan airline does not plan on resuming. operations to Israel until March 31 at the earliest, while a. choice to resume operations to and from Jordan from December. is under discussion, a Ryanair spokesperson said on Nov. 27. SUNDAIR The German airline company has cancelled flights between Beirut and. Bremen until March 26 and in between Beirut and Muenster/Osnabrueck. till March 29. TAROM Romania's flag provider has suspended Beirut flights until. Dec. 20. UNITED AIRLINES The Chicago-based airline company has actually suspended flights to Tel Aviv. for the foreseeable future. VIRGIN ATLANTIC The UK carrier has actually suspended Tel Aviv flights up until. end-March. WIZZ AIR The Hungary-based airline has suspended Tel Aviv flights. through Jan. 14.

• Urals differentials the same, winter season weather weighs on shipping expenses

  Urals crude differentials to dated Brent were unchanged on Monday, while bad winter season weather begun to push shipping costs for oil freights up, traders said. Delivering costs increased due to rising delays in Turkish straits, traders stated. On Monday delays for passing by means of Bosphorus and Dardanelles increased to 810 days for a oneway trip, according to Riverlake company. . Traders also expected freight rates to increase for Russian oil. filling from its northern ports amidst ice class requirements for. vessels due to upcoming difficult ice conditions. PLATTS WINDOW * No bids or deals were revealed for Urals, Azeri BTC or CPC. Blend. in the Platts window on Monday. NEWS * Russian President Vladimir Putin signed a decree on. Monday,. extending the sale period for Exxon's stake in Russia's. Sakhalin-1 oil and gas job for one year until Jan. 1, 2026.

• Israeli strike targets air defence setup near Syria's Mediterranean Latakia port

  An Israeli strike targeted an air defence installation near Syria's Mediterranean Latakia port, Syrian security sources stated on Monday. Israel carried out 3 airstrikes in the Syrian capital a. day earlier, versus a security complex and a federal government. research study centre which it has stated in the past was used by Iran. to develop rockets, 2 regional security sources informed Reuters. on Sunday. Previously on Sunday, Israel struck a minimum of 7 targets in. southwest Syria that consisted of the Khalkhala air base north of. Sweida city, the sources stated. The strikes followed Syrian rebels overthrew President. Bashar al-Assad, which Israel has seen with a mix of hope. and issue. Israel has actually been carrying out strikes against Iran-linked. targets in Syria for several years however has actually ramped up such raids given that. last year's Oct. 7 attack by Palestinian group Hamas on Israeli. area that sparked the Gaza war.

• Property manager Polen Capital to open Abu Dhabi office in Mideast expansion push

  U.S. financial investment management firm Polen Capital stated on Monday it has received initial approval for a license to run from the ADGM, Abu Dhabi's. financial centre, as it looks to capitalise on growth. chances in the region. Rising business registrations, the appeal of sovereign wealth. funds, and the relative ease of getting a license to operate. compared with other financial centres have actually enhanced ADGM's. attractiveness for global companies. Polen Capital, which had approximately $63 billion in assets. under management as at Sept. 30, will join other international property. managers and hedge funds in establishing in the ADGM. The move is normally driven by chances to deepen ties. with the United Arab Emirates' biggest sovereign wealth funds. and local family workplaces. Opening an office in Abu Dhabi would mark a significant. milestone for Polen, as we begin to construct a higher existence in. the Middle East market, Polen Capital CEO Stan Moss stated in a. statement. We anticipate getting the Financial Services Authorization. from the FSRA (Financial Provider Regulatory Authority) and. continuing our dedication to delivering extraordinary service in. the area. No information of the business's current assets under management. or investments in the Middle East area were supplied in the. statement.